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10/03/2016

IAASA, Ireland’s accounting enforcer, has today published its financial reporting decisions arising from its examination of the annual financial statements of Morgan Stanley Asia Products Limited (‘the issuer’) for the year ended 31 December 2014.

The two key decisions relate to:

the presentation of gains/losses on financial instruments on the face of the Statement of Comprehensive Income (Profit and Loss Account); and

the classification and presentation of the Statement of Cash Flows (the issuer presented all cash flows as “operating” cash flows and did not classify any cash flows as “investing” or “financing”).

In addition, the directors of Morgan Stanley Asia Products Limited provided undertakings to IAASA to amend the presentation and to provide additional disclosures in future financial statements in relation to the: